Flames emerge from flare stacks at an oilfield in Iraq behind a man wearing a face mask as protection against coronavirus. Photo: Reuters

Explainer |
Why did Saudi Arabia start an oil price war?

  • Global oil demand was already in the doldrums amid widespread restrictions on trade and travel in the wake of the novel coronavirus outbreak
  • But Russia balked at oil production cuts, the Saudis slashed prices in retaliation and global markets went into a tailspin on Monday
Topic |   Explainers
Flames emerge from flare stacks at an oilfield in Iraq behind a man wearing a face mask as protection against coronavirus. Photo: Reuters
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